Amazon.com Inc. reported 37% increases in net sales to $96.1 billion in Q3, up from $70 billion in Q3 2019, according to the company’s press release. Net income rose to $6.3 billion or $12.37 per diluted share from $2.1 billion or $4.23 per share in Q3 2019.
- Net sales in Q4 2020 is expected to range between $112.0 billion and $121.0 billion, representing a 28-38% growth from Q4 2019.
- Operating income in Q4 2020 is expected to range between $1.0 billion and $4.5 billion, compared to $3.9 billion in Q4 2019, assuming about $4.0 billion of costs related to COVID-19.
- Amazon’s guidance is made under the assumption that no additional business acquisitions, investments, restructurings, or legal settlements are made.
- Amazon’s operating income for Q3 2020 increased to $6.2 billion, up from $3.2 billion in Q3 2019.
- Free cash flows rose to $29.5 billion for the trailing twelve months, up from $23.5 billion for the trailing twelve months ended September 30, 2019.
Amazon stock is declining. AMZN: NASDAQ is down 2.60%